BP to spend half billion to reinvent itself

BP North America told its marketers and franchisees that it is putting $500 million into marketing in the US over the next two years, in an attempt to revamp its brand, reports Convenience Store News. The oil giant that spewed millions of crude oil into the Gulf of Mexico when the Deepwater Horizon rig exploded in April 2010 is counting heavily on its sponsorship of the summer Olympics and rebates to its retail customers.

“In 2012 and beyond, BP’s commitment to its branded marketers will be second to none in our industry,” said Doug Sparkman, president of BP’s East of Rockies Fuels Value Chain, at the 2012 BP Amoco Marketers Association (BPAMA) Convention and Business Expo. “Our top-quality fuel offer, improved consumer rewards programs and exclusive energy sponsorship of the U.S. Olympic Committee and Team USA all point to this year’s convention theme of ‘winning together’ through teamwork and collaboration with our branded customers.”

BP will re-launch BP gasoline with the additive Invigorate. A revamped advertising campaign will emphasize the increased mileage benefits of continuous use of Invigorate compared to low-detergency fuels.

At the convention, BP confirmed a March 1 launch date for its new Pump Rewards payment technology, a first-of-its-kind technology that will allow its customers to instantly redeem cents-per-gallon rebates by rolling back the price that appears at the gas pump.

…Meanwhile local businesses still fight with BP and its Gulf Coast Claim Facility over damage claims. And the federal government negotiates with them over the actual damages and fines to be paid.